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Dec 8, 2012
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when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in 30 days or 90 days and we are clear about that, but nothing people believe we are going to do something until we do it. >> the to go to the broader concern. does the top rate have to end the 39.6% the way it was under bill clinton? could be democrats accept something between if it was coupled with a reduction in the ability on the top 2% to except a reduction of deductions? >> i do not want to second-guess what we might decide. i do not think that is what we should debate the right now. multimillionaires and what deductions they can take is something different. this is where we are. >> that is in addition to. >> yes, in addition to. the problem with having that debate now suggests that that
when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in 30 days or 90 days and we are clear about that, but nothing people believe we are going to...
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Dec 6, 2012
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cliff expire, go down the fiscal cliff for tax rates, and adjust the taxes for the 98% through the rebate process. and this could be available for anyone, any president. let the bush tax rates apply as a ceiling, and then apply the rebate process to control the 98%. host: why do you propose that? what is the advantage in your view? caller: because the executive branch, the president, whoever it is, would have the ability to adjust the tax effectively for anyone who falls below the clintons' ceiling, and they could do this anytime. there would not have to go back to congress. -- they would not have to go back to congress. guest: it is true that technically the administration can do some things without even the congress's approval, but it would not be a lasting solution. let's say you could freeze the amount of withholding that you pay three paycheck at the level it was this year, for the 98%, and increase withholdings for everyone else as the law would dictate if you read over the cliff. -- went over the cliff. but the 98%, if they did not actually pass a law to extend the tax cuts for tha
cliff expire, go down the fiscal cliff for tax rates, and adjust the taxes for the 98% through the rebate process. and this could be available for anyone, any president. let the bush tax rates apply as a ceiling, and then apply the rebate process to control the 98%. host: why do you propose that? what is the advantage in your view? caller: because the executive branch, the president, whoever it is, would have the ability to adjust the tax effectively for anyone who falls below the clintons'...
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Dec 9, 2012
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a lot of americans to not know a lot about the fiscal cliff. the confidence and a market reaction is very different than the spending cuts and tax increases. here is the fundamental point. i could be wrong, it happened once. why find out? it is irresponsible to govern the country this way. the sequester and across the board cut, it is bat policy. everybody knows it is bad policy. we are very close to doing it. i find the whole situation unsatisfying. host: our phone lines are open and you can also send us an e- mail. you work for a number of members of the democratic party. you work for the president. a question that comes up often is why there is a partisan divide. what has changed over the last 20 or 30 years? guest: we only have an hour so we cannot go through all of that. there are a lot of things. there are some extraordinary changes. politics as a con tact sport is a substantial change from when i worked on the hill. they did not agree on anything, but they enjoy each other's company. i have seen with my own eyes republicans and democrats
a lot of americans to not know a lot about the fiscal cliff. the confidence and a market reaction is very different than the spending cuts and tax increases. here is the fundamental point. i could be wrong, it happened once. why find out? it is irresponsible to govern the country this way. the sequester and across the board cut, it is bat policy. everybody knows it is bad policy. we are very close to doing it. i find the whole situation unsatisfying. host: our phone lines are open and you can...
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Dec 10, 2012
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a lot of americans to not know a lot about the fiscal cliff. the confidence and a market reaction is very different than the spending cuts and tax increases. here is the fundamental point. i could be wrong, it happened once. why find out? it is irresponsible to govern the country this way. the sequester and across the board cut, it is bat policy. everybody knows it is bad policy. we are very close to doing it. i find the whole situation unsatisfying. host: our phone lines are open and you can also send us an e- mail. you work for a number of members of the democratic party. you work for the president. a question that comes up often is why there is a partisan divide. what has changed over the last 20 or 30 years? guest: we only have an hour so we cannot go through all of that. there are a lot of things. there are some extraordinary changes. politics as a con tact sport is a substantial change from when i worked on the hill. they did not agree on anything, but they enjoy each other's company. i have seen with my own eyes republicans and democrats
a lot of americans to not know a lot about the fiscal cliff. the confidence and a market reaction is very different than the spending cuts and tax increases. here is the fundamental point. i could be wrong, it happened once. why find out? it is irresponsible to govern the country this way. the sequester and across the board cut, it is bat policy. everybody knows it is bad policy. we are very close to doing it. i find the whole situation unsatisfying. host: our phone lines are open and you can...
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Dec 5, 2012
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do they cut a deal to avoid the fiscal cliff before we actually get there? >> i believe so. >> senator? >> yes. the treasury secretary says withholding taxes and does not have to raise them even if the taxes go up. why sequester does not have to be month by month. you can do the sequester in the last 12 months. he gives the congress four or five months into the next year before the house to reach a deal. -- before they have to reach a deal. >> they could kick the can down the road. who thinks the market will not let them do that? there will be punished. sooner rather than later, you think? we have not seen it so far. >> i am in the camp of, the herd will turn. erskine bowles has a famous line. we got away with this last time because we were the best- looking horse in the glue factory. we are not going to get a pass this time. there is no question. who will get punished. and that is very dangerous for everyone, all of us. >> it is great for me to remind you -- you can watch the president on bloomberg television shortly. thank you all for a lively discussion.
do they cut a deal to avoid the fiscal cliff before we actually get there? >> i believe so. >> senator? >> yes. the treasury secretary says withholding taxes and does not have to raise them even if the taxes go up. why sequester does not have to be month by month. you can do the sequester in the last 12 months. he gives the congress four or five months into the next year before the house to reach a deal. -- before they have to reach a deal. >> they could kick the can...
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Dec 13, 2012
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when you think about fiscal cliff, the bush tax cuts have collapsed, sequestration cuts spending, and then there's a trillion dollar tax increase that obama has over the next decade to pay for obamacare. interestingly, he decided to delay those taxes until after he was reelected. but they start kicking in in january. very painful and hit the middle class hard. the reason not to raise taxes is to have a spending problem. we spent too much money. raising taxes is not part of spending less. it's not part of a compromise or anything. it is what politicians do instead of. reforming of - instead of reforming government. europeans eventually put in energy taxes and that is what obama is doing. he spent his five trillion dollars in the first term and wants to take us a trillion dollars more in debt over the next decade. there's no way to raise taxes to pay for that. we have to rein in spending. raising taxes is what politicians do when they don't have the courage to reform government. host: you can read this new press release on the internet. canada and middle-class families face high medical
when you think about fiscal cliff, the bush tax cuts have collapsed, sequestration cuts spending, and then there's a trillion dollar tax increase that obama has over the next decade to pay for obamacare. interestingly, he decided to delay those taxes until after he was reelected. but they start kicking in in january. very painful and hit the middle class hard. the reason not to raise taxes is to have a spending problem. we spent too much money. raising taxes is not part of spending less. it's...
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Dec 10, 2012
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off the floor, negotiations continuing over what is called the fiscal cliff -- the combination of tax increases and spending cuts unless congress takes action. that's live tomorrow, here on c- span. next, the government's role on innovation and the economy. participating in the discussions is glenn hutchins, a former adviser to bill clinton and the google public policy and government relations and vice- president. it was a nearly hour-long the event of the by the center for american progress. >> that is a tough act to follow. i'm al hunt. let me just give you one quick story. i met her when she was policy director for hillary clinton and barack obama. i did a column one time in which i referred to her as the sugar ray robinson of policy directors. it sugarn't remember ray robinson, he was pound for pound, the greatest boxer in the history of the game. when i see here, i say hi, sugar. one of my younger reporters over heard this and said is he old? he's just a different generation. i'm sorry, sugar. [laughter] >> i'm glad you explained that. >> is terrific to be here. what a great pane
off the floor, negotiations continuing over what is called the fiscal cliff -- the combination of tax increases and spending cuts unless congress takes action. that's live tomorrow, here on c- span. next, the government's role on innovation and the economy. participating in the discussions is glenn hutchins, a former adviser to bill clinton and the google public policy and government relations and vice- president. it was a nearly hour-long the event of the by the center for american progress....
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Dec 12, 2012
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we passed a bill a few months ago that prevents the fiscal cliff by saying no taxes will be increased, a bipartisan bill. all of those votes, were criticized for. they called us right wing nuts and extremists. we explain to the people what we want to do to get our economy moving again, but also to control spending in washington. and we were reelected with a mandate not only to continue to be in charge of the house, but to be the line of defense against the radical administration. i think we know what our task is. all but, for candidates -- all but four of the 30 candidates elected are talking about joining rsc. they were elected on these principles we believe in. i am comfortable with where we are positioned now, but i know it is going to be a tough ride ahead. we would not be doing this if it was not a mandate the people sent us to go do. >> something on all of our minds is the fiscal cliff. i would be remiss if i did not ask you both to weigh in on it in the following way. first, what is going on that we do not understand? number two, what should happen? number 3, what is the rsc go
we passed a bill a few months ago that prevents the fiscal cliff by saying no taxes will be increased, a bipartisan bill. all of those votes, were criticized for. they called us right wing nuts and extremists. we explain to the people what we want to do to get our economy moving again, but also to control spending in washington. and we were reelected with a mandate not only to continue to be in charge of the house, but to be the line of defense against the radical administration. i think we...
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Dec 12, 2012
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as part of this so-called fix -- fiscal cliff, what tax deductions would you give up? fort lauderdale, hello. caller: hello. good morning. i feel that i would be willing to give up some of my medicare benefits. i currently get free shoes and other benefits from medicare that i would be willing to give up. host: anything that you would be willing to give up on your taxes? items that you have in the past? caller: i would be willing to give up my charitable deductions. host: how come? caller: i feel that i give part of it to my charitable deductions. host: would you still make donations to charity if you could not write it off on your taxes? caller: yes, i would. host: thank you for your call. joe? caller: i would be willing to give up earned income credit and i liked what the last caller said about modifying the amount for charitable deductions. i think that sometimes the very rich use that to give to charities that actually benefit themselves. i also have a contingency, which would be to reform the bankruptcy act and remove those benefits for companies that were put in
as part of this so-called fix -- fiscal cliff, what tax deductions would you give up? fort lauderdale, hello. caller: hello. good morning. i feel that i would be willing to give up some of my medicare benefits. i currently get free shoes and other benefits from medicare that i would be willing to give up. host: anything that you would be willing to give up on your taxes? items that you have in the past? caller: i would be willing to give up my charitable deductions. host: how come? caller: i...
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Dec 7, 2012
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if the fiscal cliff debate is only limited to tax rates and deficit reduction, and not the debt ceiling, this will come up again. president obama once the debt ceiling to be part of this agreement. the reason why is simple, because that is where republicans have leverage in february. he needs republicans to extend the debt ceiling for the government to function with all going into default. republicans know this, and in theory they could separate the two to maximize their leverage. host: time for a couple more calls in this segment of the "washington journal," we will continue the unemployment insurance discussion in the following segment. laura is in louisville, kentucky, on the independent line. caller: good morning. what bothers me is when people say they actually can not find work and they have been on unemployment for 20 months, whatever they can get, and i will tell you my husband lost his job five years ago. he was with a company for 23 years. immediately we went into survival mode. we thought about what we could do to reduce bills, simplify our lifestyle in case he could not find
if the fiscal cliff debate is only limited to tax rates and deficit reduction, and not the debt ceiling, this will come up again. president obama once the debt ceiling to be part of this agreement. the reason why is simple, because that is where republicans have leverage in february. he needs republicans to extend the debt ceiling for the government to function with all going into default. republicans know this, and in theory they could separate the two to maximize their leverage. host: time...
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Dec 5, 2012
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host: you are talking about the payroll tax cut, extending that possibly as part of the fiscal cliff negotiations. caller: right. it will cost them in the long run. host: because the money is coming out of social security. politicians say that will not happen. they say social security will have its money. caller: they tell you all kinds of things. host: john in atlanta, democratic caller. caller: how are you? it seems like it is open phones. i think as far as the fiscal cliff is concerned, the democrats and republicans need to come together and they need to do that rather quickly, because that's the way i feel about it. host: do you think it decides it should just agree to pass the tax cuts -- extend the tax cuts for middle-class americans and then wait until later to resume the debate over spending and tax cuts for wealthy americans? caller: they should start with that. and if they agree on that, then they can go on to the next thing. but this lagging and dragging along on both sides makes no sense. host: here is the washington post this morning. [video clip] >> i don't think the is
host: you are talking about the payroll tax cut, extending that possibly as part of the fiscal cliff negotiations. caller: right. it will cost them in the long run. host: because the money is coming out of social security. politicians say that will not happen. they say social security will have its money. caller: they tell you all kinds of things. host: john in atlanta, democratic caller. caller: how are you? it seems like it is open phones. i think as far as the fiscal cliff is concerned, the...
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Dec 13, 2012
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happens with the fiscal cliff. this is an arbitrary, across-the-board tax increase. the combination of which will mean that if we are unable to resolve the fiscal cliff without raising taxes, we'll already see a lot of new taxes as a result of the health care law on financial transactions, on insurance programs, on every single working american. so that's why we have our speaker, john boehner, trying to present president obama with an alternative that says rather than raising taxes which is already going to happen on january 1 from this massive new tax increase that was in the health care bill, why don't we find a way to understand and have the economy take that in hand first? i know the president stood here at the state of the union address and said we're not going to spend one dime of taxpayer money. i know the president stood here and said every single american can keep your own insurance plan. i know the president has made these promises to the american people and these are things that we're going to have to un
happens with the fiscal cliff. this is an arbitrary, across-the-board tax increase. the combination of which will mean that if we are unable to resolve the fiscal cliff without raising taxes, we'll already see a lot of new taxes as a result of the health care law on financial transactions, on insurance programs, on every single working american. so that's why we have our speaker, john boehner, trying to present president obama with an alternative that says rather than raising taxes which is...
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talking about the fiscal cliff negotiations. a panel of business voters and politicians discuss health care costs. >> this week, hurricanes and the responses and housing issues. craig fugate and shaun donovan testify about hurricanes and the recovery efforts. on thursday, a testimony before the committee on federal housing administration and physical challenges. here on c-span. >> we have had these explosions of knowledge in medicine. but we have not coordinated care. all of these services we have end up having so many cracks that they are as harmful as the diseases we are treating. you have got to step back and ask, are we hurting people overall on a global level? what are we doing sometimes? now we have got these reports saying, 30% of everything we do may not be necessary in health care. when we step back, 30% of all the medications we prescribe, the tests we order, the procedures, this is something which is, for the first time, being called out as a problem. >> dysfunction in the u.s. health-care industry. what hospitals wil
talking about the fiscal cliff negotiations. a panel of business voters and politicians discuss health care costs. >> this week, hurricanes and the responses and housing issues. craig fugate and shaun donovan testify about hurricanes and the recovery efforts. on thursday, a testimony before the committee on federal housing administration and physical challenges. here on c-span. >> we have had these explosions of knowledge in medicine. but we have not coordinated care. all of these...
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Dec 11, 2012
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their insistence on holding tax cuts for middle class families hostage to the fiscal cliff. there's a lot of bluster coming from republicans but that facade is crumbling quickly. every day we read about more republicans breaking rank, calling on the speaker to allow tax rates to rise on the wealthiest. yesterday, it was carson and culver. today former governor haley barbour, here's what he said. i as a republican would take raising rates on the two top brackets if we had tax reform and some other things he wanted. but he wants the rate to go up on the top two brackets. as soon as the republicans accept reality and guarantee middle clats families their taxes won't go up, i'm confident an agreement will be reached. >> the last few years, you -- some republicans are saying that this is restricting the amendment process and part of the reason why they're -- that they are threaten -- threatening to filibuster. why have you chose ton purr suze those practices. >> i've explained this before. we have to spend eight to 10 days, senate days, that's a couple of weeks, to get on a bill.
their insistence on holding tax cuts for middle class families hostage to the fiscal cliff. there's a lot of bluster coming from republicans but that facade is crumbling quickly. every day we read about more republicans breaking rank, calling on the speaker to allow tax rates to rise on the wealthiest. yesterday, it was carson and culver. today former governor haley barbour, here's what he said. i as a republican would take raising rates on the two top brackets if we had tax reform and some...
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Dec 10, 2012
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at the same time, if there is a fiscal cliff issue, who is going to benefit? not the taxpayer or the middle- class. we what -- we will wind up with taxes increasing at the state level, which means again they have to feed the beast, the beast is the government. the first people to sacrifice for the government are the government people themselves. the federal government employees, 2.2 million people collecting incredible pensions. you just read an article about people that make $388,000 at fannie mae and freddie mac. why are those people not sacrificing? why do we have to pick up the feed that they eventually give us? one gentleman from new york talked about that. i do not have a pension plan. i am 62. i will need social security. my house has twice as much taxes on it as it used to. no one helped me on the fiscal cliff when i lost out in 1991. today everyone gets help. chuck schumer today said that he will want to give tax benefits and credits to people in new york city. who is going to pay for it? host: that is the story from the papers this morning. senator s
at the same time, if there is a fiscal cliff issue, who is going to benefit? not the taxpayer or the middle- class. we what -- we will wind up with taxes increasing at the state level, which means again they have to feed the beast, the beast is the government. the first people to sacrifice for the government are the government people themselves. the federal government employees, 2.2 million people collecting incredible pensions. you just read an article about people that make $388,000 at fannie...
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i do think getting over the fiscal cliff, the deal getting closer to balance the budget is still very important. i do hope because of the discussion that tax reform is something that is taken seriously for this year. i think that is well overdue. there is not time to do it before december 31. it will give businesses a lot of assurances that the government is paying attention to what they are saying. >> you should tell barack obama to find a jim baker. >> think about each time we have reached a crisis point in our anntry there's been institutional response to tit. we created a central bank. that has proved to be enormous for the past five years and important for years before that. post-world war ii, we create a system and the department of homeland security. i wonder if there's not an institutional -- >> some did not work as well as others. >> that is exactly right. it reflects our values and the focus of the government'. we should have a department of homeland prosperity. we need somebody other than the aboutent to think american competitiveness. something we've taken for granted beca
i do think getting over the fiscal cliff, the deal getting closer to balance the budget is still very important. i do hope because of the discussion that tax reform is something that is taken seriously for this year. i think that is well overdue. there is not time to do it before december 31. it will give businesses a lot of assurances that the government is paying attention to what they are saying. >> you should tell barack obama to find a jim baker. >> think about each time we...
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talks about the fiscal cliff. after that, john podesta oh talks about tax laws. -- talks about tax laws. tomorrow morning's "washington journal does quote a representative peter welch talks about the fiscal cliff negotiations. -- " ashington journal" has representative peter welch talk about the fiscal cliff negotiations. after that, joseph schatz on estate tax. >> we are at the new york state museum. this is every gallery that is dedicated to the history of september 11 and the attacks on new york's world trade center. we have decided that this gallery could heltell the storyf the first moment of attack using objects found out the site. this is a he said steel from the south tower -- and this is a piece of from the south tower. because the visitor a real tangible experience. this is a piece of steel from the north tower. this is a germanic piece of steel. iece of steel.pic you can see where the windows would have been. every piece of steel is marked so you know which build theing, which floor. this one was picked
talks about the fiscal cliff. after that, john podesta oh talks about tax laws. -- talks about tax laws. tomorrow morning's "washington journal does quote a representative peter welch talks about the fiscal cliff negotiations. -- " ashington journal" has representative peter welch talk about the fiscal cliff negotiations. after that, joseph schatz on estate tax. >> we are at the new york state museum. this is every gallery that is dedicated to the history of september 11...
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Dec 13, 2012
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let's assume we go through the fiscal cliff, immigration, corporate tax reform, and investments. immigration, you are not going to do just a dream act, but you have to do a comprehensive immigration or you don't. george bush, john mccain, ted kennedy. then they decided to sabotage it. republicans of learned a lesson this time, but i'm not sure how much. corporate tax reform, i covered the 1985-1986 act. that was financed through corporate tax increase. they had the most skillful treasury secretary. people on both sides willing to work with the white house and congress. third, when you talk about infrastructure spending, investments, and things we done with n.i.h and national science foundation, all the talk now is about debt. so how do you do what they envisioned? >> once we get over the fiscal cliff we will have the discussion on the debt ceiling again in january. >> story. >> so we're not calling to get away from somewhat of a doomsday scenario for quite some time, which would allow his position. but i do think it is important, because the priorities that glenn outlined are not
let's assume we go through the fiscal cliff, immigration, corporate tax reform, and investments. immigration, you are not going to do just a dream act, but you have to do a comprehensive immigration or you don't. george bush, john mccain, ted kennedy. then they decided to sabotage it. republicans of learned a lesson this time, but i'm not sure how much. corporate tax reform, i covered the 1985-1986 act. that was financed through corporate tax increase. they had the most skillful treasury...
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host: the amt was part of our series on the different aspects of the fiscal cliff talks. you can go to our web site to find more details. today, the discussion is about domestic spending. if sequestration happens at the end of the month, and we are talking about $500 billion in domestic spending across the board, right, charles clark? guest: $500 billion over 10 years. $38 billion would be in 2013. host: when people say across- the board, automatic, what does that mean? guest: agencies have these accounts, and there are about 1200 of them, and the managers have not been permitted by the obama-care administration to map out exactly how and 8.2% cut, which is about the equivalent of a 12% cut because the fiscal year is about one- quarter old by the time they kick in, so it is more abrupt than people think. these program project activity accounts, each would have to be cut by 8.2%, and only last week did the obama administration give permission to the pentagon and other agencies to start publicly discussing and calculating exactly how many people, programs and services might
host: the amt was part of our series on the different aspects of the fiscal cliff talks. you can go to our web site to find more details. today, the discussion is about domestic spending. if sequestration happens at the end of the month, and we are talking about $500 billion in domestic spending across the board, right, charles clark? guest: $500 billion over 10 years. $38 billion would be in 2013. host: when people say across- the board, automatic, what does that mean? guest: agencies have...
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host: the amt was part of our series on the different aspects of the fiscal cliff talks. you can go to our web site to find more details. today, the discussion is about domestic spending. if sequestration happens at the end of the month, and we are talking about $500 billion in domestic spending across the board, right, charles clark? guest: $500 billion over 10 years. $38 billion would be in 2013. host: when people say across-the board, automatic, what does that mean? guest: agencies have these accounts, and there are about 1200 of them, and the managers have not been permitted by the obama-care administration to map out exactly how and 8.2% cut, which is about the equivalent of a 12% cut because the fiscal year is about one-quarter old by the time they kick in, so it is more abrupt than people think. these program project activity accounts, each would have to be cut by 8.2%, and only last week did the obama administration give permission to the pentagon and other agencies to start publicly discussing and calculating exactly how many people, programs and services might h
host: the amt was part of our series on the different aspects of the fiscal cliff talks. you can go to our web site to find more details. today, the discussion is about domestic spending. if sequestration happens at the end of the month, and we are talking about $500 billion in domestic spending across the board, right, charles clark? guest: $500 billion over 10 years. $38 billion would be in 2013. host: when people say across-the board, automatic, what does that mean? guest: agencies have...
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host: we have been focusing on different aspects of the fiscal cliff. we want to look at capital gains tax and the estate tax. what is the estate tax? guest: it goes back to history -- it was put in place to prevent the united states from developing an aristocracy. a tax on estates that are passed down to heirs. republicans called the death tax. they have characterized it as a bad thing. it has a lot of a populist opposition to it. george w. bush signed in a phase-out of the estate tax. the top rate stays at 55%. the exemption level started rising from $1 million and going up. it was repealed completely in 2010 for one year. then it sprang back to life as part of the extension of the bush tax cuts that president obama signed into law. you have a debate -- very few members dispute that it needs to be continued. the debate is over whether you continue it at the current level. there is an exemption level, $10 million for a couple. or at the white house would prefer a 45% rate. that is the debate right now. there's a split among democrats. the white house w
host: we have been focusing on different aspects of the fiscal cliff. we want to look at capital gains tax and the estate tax. what is the estate tax? guest: it goes back to history -- it was put in place to prevent the united states from developing an aristocracy. a tax on estates that are passed down to heirs. republicans called the death tax. they have characterized it as a bad thing. it has a lot of a populist opposition to it. george w. bush signed in a phase-out of the estate tax. the top...
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Dec 10, 2012
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let's assume we go through the fiscal cliff. immigration, corporate tax reform, and investments. emigration, you're not doing the dramatic. vietor due to comprehensive immigration but we did not have a chance to do it. both wings cayman decided it would sabotage it. maybe republicans learned the lesson but i am not sure how much of a lesson. the way that was financed was through the corporate tax increase but there -- that had people on both sides will in to work with the white house and congress. when you talk about infrastructure spending and investments in things we have done with nih, all the talk now is about death. >-- how do you do what the ambitious and admirable the agenda envisions? >> will have the discussion of the debt ceiling again in january. we're not getting away from the somewhat of a doomsday scenario for quite some time. which would allow us to get to glen's position. it is important because the priorities that you outlined are not partisan. people did not have a disagreement as to whether the federal government should have a role in immigration. the federal b
let's assume we go through the fiscal cliff. immigration, corporate tax reform, and investments. emigration, you're not doing the dramatic. vietor due to comprehensive immigration but we did not have a chance to do it. both wings cayman decided it would sabotage it. maybe republicans learned the lesson but i am not sure how much of a lesson. the way that was financed was through the corporate tax increase but there -- that had people on both sides will in to work with the white house and...
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Dec 12, 2012
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one is that fiscal cliff, to is the debt ceiling. three is the so-called big deal that has to be done on our debt and deficit. of fortunately those issues, convoluted, especially in this town. they are distinct. the impact each other but they are distinct. this fiscal cliff is an artificial state. congress came in, said this law expires on this date. they extended it wants. they put in the sequestration. it is a date. all they have to do is extend the date and allow themselves time to discuss the issues. instead they are putting it all into a lame duck session. that is a problem. sometimes it leads to bad policy. the fiscal cliff can have real consequences. cbo has said that it would cause a recession if we were to go off the fiscal cliff. i do not dispute that i do point out that in 1993 when these taxes were first put in, many said they will cause a recession. they did not. the economy is improving on its own right now. and getting some much stronger. the impact of the fiscal cliff, while not something to be encouraged, may not be
one is that fiscal cliff, to is the debt ceiling. three is the so-called big deal that has to be done on our debt and deficit. of fortunately those issues, convoluted, especially in this town. they are distinct. the impact each other but they are distinct. this fiscal cliff is an artificial state. congress came in, said this law expires on this date. they extended it wants. they put in the sequestration. it is a date. all they have to do is extend the date and allow themselves time to discuss...
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Dec 8, 2012
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when you hear about the concern about the fiscal cliff, it is not the tax rates. i do not buy that. i do not think we need to increase the tax rates. >> if you go over and the tax rates go up, all of that goes away. >> we should not do it. we should resolve this. it depends on whether we then do something about it in the next month or two after it. we set ourselves on a path to do something within 30, 60, or 90 days and we are clear about that. people do not believe we will do it unless we do something. that is our worries. >> as part of that second stage, does the top rate have to end at 39.6? are there ways democrats can accept something in between bush and clinton if it was coupled with a reduction in the ability of people to take certain deductions or credits? would you see a top rate below 39.6 when the dust settles? >> i do not want to second-guess what we may decide. i think we should go to 39%. that is not what we should be debating. i do not think it is instead of -- >> it is in addition to. >> yes. having that debate now suggests that that is all we have to do. most people
when you hear about the concern about the fiscal cliff, it is not the tax rates. i do not buy that. i do not think we need to increase the tax rates. >> if you go over and the tax rates go up, all of that goes away. >> we should not do it. we should resolve this. it depends on whether we then do something about it in the next month or two after it. we set ourselves on a path to do something within 30, 60, or 90 days and we are clear about that. people do not believe we will do it...
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Dec 12, 2012
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most of the debate up to now about the fiscal cliff has focused on defense cuts and expiring tax cuts. justifiable. but the ramifications for local safety nets are equally portentous. in my district, for example, fairfax county, recently kicked off its annual hypothermia prevention program. during my tenure on the county board i worked with faith, business, and community leaders to open houses of worship and other places to offer shelter from the cold and a hot meal for the homeless and individuals and families. it saves lives. last winter the program served more than 1,000 clients in one of the wealthiest districts in the united states. sequestration threatens support for this and other federal homeless prevention efforts. the mckinny-vento program prevents homelessness would be cut by as much as $156 million. you didn't hear anything about that just now. and it would leave more than 145,000 more people out in the cold at risk of dying from hypothermia. similarly families in every state rely on low-income heating assistance which stands to lose as much as $270 million in sequestratio
most of the debate up to now about the fiscal cliff has focused on defense cuts and expiring tax cuts. justifiable. but the ramifications for local safety nets are equally portentous. in my district, for example, fairfax county, recently kicked off its annual hypothermia prevention program. during my tenure on the county board i worked with faith, business, and community leaders to open houses of worship and other places to offer shelter from the cold and a hot meal for the homeless and...
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Dec 5, 2012
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speaker, this so-called fiscal cliff. it's not a fiscal cliff. the truth is we have a tax decision coming up and we have a spending decision coming up. truthfully, we need more spending decisions coming up. sequester is a new word that we brought up. the sequester, as you recall, mr. speaker, was the hammer that we put in place way back, one of the first big votes you and i took way back in august of 2011. that was part of an agreement that the president wanted to raise the debt ceiling. there were bills that needed to be paid. the speaker of the house, john boehner, said we're not going to expand america's credit card until we get serious about curbing spending. he said, no, mr. president, i will not raise the limit on america's credit card unless you agree to dollar-for-dollar reductions on the spending side of the ledger so that we're not just making the problem worse, we're creating a pathway to solve the problem altogether. i admire the speaker for that. and the speaker and the president agreed on this proposal. it was called the budget cont
speaker, this so-called fiscal cliff. it's not a fiscal cliff. the truth is we have a tax decision coming up and we have a spending decision coming up. truthfully, we need more spending decisions coming up. sequester is a new word that we brought up. the sequester, as you recall, mr. speaker, was the hammer that we put in place way back, one of the first big votes you and i took way back in august of 2011. that was part of an agreement that the president wanted to raise the debt ceiling. there...
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Dec 6, 2012
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increases and spending cuts known as the fiscal cliff take effect. bloomberg government hosted a discussion this morning with the top democrat on the house budget committee, chris van hollen as well as republican senator bob corker and senator mark warner. at 9:00 eastern, president obama and house spear jaub boehner and spoke about the fiscal cliff today. republicans might be willing to agree to higher tax rates on the wealthy in january. house speaker calling on the obama administration to respond to the republicans' deficit proposal. president obama is at 9:00 eastern followed by speaker boehner. >> this weekend on c-span 3's american history tv, follow harry truman's eldest grandson to japan. >> everybody has their own view what happened and i don't want to argue survival to anyone in japan about the history. we're past that. and my whole purpose for being here is to listen to the living and to do what i can. >> sunday at 9:00 p.m. eastern on c-span 3. >> the supreme court will look at what was passed in 2008 by a majority of 6-3 i believe and go
increases and spending cuts known as the fiscal cliff take effect. bloomberg government hosted a discussion this morning with the top democrat on the house budget committee, chris van hollen as well as republican senator bob corker and senator mark warner. at 9:00 eastern, president obama and house spear jaub boehner and spoke about the fiscal cliff today. republicans might be willing to agree to higher tax rates on the wealthy in january. house speaker calling on the obama administration to...
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Dec 7, 2012
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the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. what the president's plan lacks is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp. it is estimated to be as high as $128 trillion. even if they confiscate all of the income that excesses $1 million, we cannot pay for the entitlement commitments that the federal government has made. we have made promises to ourselves that we simply cannot keep. without some sensible entitlement reform, our credit rating will be downgraded again. we will become a country that none of us recognize. secondly, fiscal plans failed to achieve their government budget deficit or debt reduction goals. dr. hassett has examined fiscal plans in other countries. on average, unsuccessful plans proposed an inc
the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. what the president's plan lacks is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp....
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Dec 5, 2012
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cliff, if we roll over that fiscal cliff and all of those bad things come to bear, the tax increases and the spending reductions, collectively they make $607 billion. and if we apply that to next year's deficit, we still won't reduce next year's annual deficit to the level of what used to be the highest deficit in american history run up under the bush administration. we can roll right over the fiscal cliff, create $607 billion in savings we didn't have before, and we still won't have reduced our annual budget deficit to what was formerly the highest budget deficit in american history before the obama administration. that's how far out of whack we are. i'm not trying to blame the president for that. i think there is some blame here, there is blame everywhere. i only say the obama administration so folks understand this is a problem that has existed as long as i have been alive, we have been running systemic deficits. but in the bush administration we were running the highest deficit in american history and today they are four times larger. and if we roll over the fiscal cliff and eve
cliff, if we roll over that fiscal cliff and all of those bad things come to bear, the tax increases and the spending reductions, collectively they make $607 billion. and if we apply that to next year's deficit, we still won't reduce next year's annual deficit to the level of what used to be the highest deficit in american history run up under the bush administration. we can roll right over the fiscal cliff, create $607 billion in savings we didn't have before, and we still won't have reduced...
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Dec 11, 2012
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we passed a bill just a few months ago that prevents are the fiscal cliff by saying nobody's taxes will be increased. all of those votes we were criticized for. they called us right-wing naughts. we explained to the people of the country what we want to do to number one get our economy going on and get our economy going again. we were re-elected with a mandate, not only to be in charge of the house, but to be a line of defense against a radical administration. i think we know what our task is. if you look at r.s.c. strength, and i don't think it's ever been stronger in terms of numbers and resolve. that will be our challenge because we will be tested. because you have so many members that are coming back that have been through this fight, that have been afact for the things we fought for in the last congress, but also the candidates that got elected, over 30 candidates, all but four, paul teller tells me, all four have expressed an interest in joining r.s.c. so you got a lot of people that ran in a tough environment and got elected talking about these conservative principles that we bel
we passed a bill just a few months ago that prevents are the fiscal cliff by saying nobody's taxes will be increased. all of those votes we were criticized for. they called us right-wing naughts. we explained to the people of the country what we want to do to number one get our economy going on and get our economy going again. we were re-elected with a mandate, not only to be in charge of the house, but to be a line of defense against a radical administration. i think we know what our task is....
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Dec 12, 2012
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agreement to avoid the fiscal cliff. but there is a consensus that we do this. so why are the republicans holding this hostage? once again, let us vote no on the previous question. let's bring this middle class tax cut up now. it is the solution. the speaker pro tempore: the gentleman's time has expired. the gentleman from texas. mr. session: i reserve my time. the speaker pro tempore: the gentlelady from new york. ms. slaughter: i have no further requests for time, mr. speaker. i wonder if my colleague is prepared to close. mr. sessions: i thank the gentlewoman for asking. i have no further speakers and would allow her that opportunity and then i will close. ms. slaughter: thank you very much. mr. speaker, we should be doing one thing today and that's passing the continuation of tax cuts for the middle class. the american people couldn't be more united in this support for tax cut and there is no reason for delay. the senate has already passed the bill and we can take up now, it's here at the desk. members across the ais
agreement to avoid the fiscal cliff. but there is a consensus that we do this. so why are the republicans holding this hostage? once again, let us vote no on the previous question. let's bring this middle class tax cut up now. it is the solution. the speaker pro tempore: the gentleman's time has expired. the gentleman from texas. mr. session: i reserve my time. the speaker pro tempore: the gentlelady from new york. ms. slaughter: i have no further requests for time, mr. speaker. i wonder if my...